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A history of the Peninsular War, Vol. 5, Oct. 1811-Aug. 31, 1812

Note 148 — SECTION XXXI: CHAPTER III

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Napier (iv. p. 212) says that Portugal raised 25,000,000 cruzados this year. I cannot understand this, comparing it with Soriano de Luz, iii. p. 523, which quotes 12,000,000 cruzados as the total receipt of taxes for 1811. Does Napier include loans, and the inconvertible paper issued by the government?

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